UniSuper Management Pty Ltd Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

UniSuper Management Pty Ltd increased its position in Coterra Energy Inc. (NYSE:CTRA) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,098 shares of the company’s stock after acquiring an additional 11,110 shares during the period. UniSuper Management Pty Ltd’s holdings in Coterra Energy were worth $2,378,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CTRA. City State Bank purchased a new stake in shares of Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy in the fourth quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the 4th quarter worth approximately $43,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Raymond James dropped their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. UBS Group upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.35.

Coterra Energy Trading Up 0.4 %

CTRA stock opened at $28.65 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business has a 50 day simple moving average of $27.91 and a two-hundred day simple moving average of $26.04. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.07%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.